InterContinental Hotels Group PLC (NYSE:IHG) Lowered to Hold at BidaskClub

BidaskClub lowered shares of InterContinental Hotels Group PLC (NYSE:IHG) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Several other brokerages also recently weighed in on IHG. Zacks Investment Research downgraded shares of InterContinental Hotels Group PLC from a buy rating to a hold rating in a research report on Wednesday, June 21st. Credit Suisse Group cut shares of InterContinental Hotels Group PLC from an outperform rating to a neutral rating in a research note on Monday, June 19th. They noted that the move was a valuation call. Morgan Stanley cut shares of InterContinental Hotels Group PLC from an equal weight rating to an underweight rating in a research note on Thursday, June 15th. Finally, Bank of America Corporation reissued a buy rating on shares of InterContinental Hotels Group PLC in a research note on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. InterContinental Hotels Group PLC has an average rating of Hold and an average price target of $50.33.

Shares of InterContinental Hotels Group PLC (IHG) traded down 0.36% during trading on Friday, reaching $51.93. 154,085 shares of the company’s stock were exchanged. The stock has a market cap of $10.18 billion, a P/E ratio of 23.29 and a beta of 1.34. InterContinental Hotels Group PLC has a 12-month low of $39.82 and a 12-month high of $57.80. The company has a 50 day moving average of $55.73 and a 200 day moving average of $53.13.

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The firm also recently announced a special dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 1st will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, August 30th.

A number of hedge funds have recently modified their holdings of IHG. Jane Street Group LLC bought a new stake in InterContinental Hotels Group PLC during the first quarter worth $21,249,000. Karp Capital Management Corp purchased a new position in shares of InterContinental Hotels Group PLC during the first quarter valued at about $8,584,000. Freestone Capital Holdings LLC purchased a new position in shares of InterContinental Hotels Group PLC during the second quarter valued at about $8,207,000. Parametric Portfolio Associates LLC boosted its position in shares of InterContinental Hotels Group PLC by 18.1% in the first quarter. Parametric Portfolio Associates LLC now owns 185,692 shares of the company’s stock valued at $9,086,000 after buying an additional 28,513 shares during the period. Finally, Dubuque Bank & Trust Co. purchased a new position in shares of InterContinental Hotels Group PLC during the first quarter valued at about $1,366,000. 6.93% of the stock is owned by institutional investors.

About InterContinental Hotels Group PLC

InterContinental Hotels Group PLC is a hotel company. The Company franchises its brands to, and manages hotels on behalf of, third-party hotel owners. Its segments include The Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. It operates a portfolio of hotel brands, including InterContinental, HUALUXE, Kimpton, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites Hotels, Holiday Inn Resort, Holiday Inn Club Vacations and Candlewood Suites Hotels.

Analyst Recommendations for InterContinental Hotels Group PLC (NYSE:IHG)

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